Trump urges US gas stations to cut prices to $2.50

President Donald Trump demanded on Monday that gasoline retailers across the United States immediately slash prices at the pump, warning of "big problems" if they fail to act. In a post on his Truth Social platform, the president argued that with crude oil trading around $68 per barrel, current retail prices are too high and called for targeting a price of approximately $2.50 per gallon.

The national average price for a gallon of regular gasoline was $3.86 on Monday, according to data from the American Automobile Association. While that represents a significant decline from a peak above $4.50 in mid-May, it remains well above the president's stated target. Trump also singled out California, criticizing the state's fuel tax policies and claiming the tax burden will soon exceed the cost of the fuel itself.

This public ultimatum follows an action Trump announced last week, in which he said he directed the Department of Justice to investigate major oil companies for alleged price gouging. The investigation is examining why pump prices have not fallen in line with the steep drop in crude oil costs. While crude prices have declined 36 percent from their May peak, gasoline prices have...